The prevention of money laundering and combating the financing of terrorism
The Terrorism Act
1.25 The Terrorism Act 2000 (the Terrorism Act) establishes several offences about engaging in or facilitating terrorism, as well as raising or possessing funds for terrorist purposes. It establishes a list of proscribed organisations that are believed to be involved in terrorism. In December 2007, tipping off offences and defences to the principal terrorist property offences were introduced (Introduced by the Terrorism Act 2000 and Proceeds of Crime Act 2002 (Amendment) Regulations 2007.)
1.26 The Terrorism Act applies to all persons and includes obligations to report suspected terrorist financing. The offences of failing to disclose and tipping off are specific to people working in firms covered by the Money Laundering Regulations (the Regulations), and who are therefore in the regulated sector, which includes casinos.
Next chapter: The Money Laundering Regulations